X0202 4 2007-10-03 0 0001397821 Duff & Phelps Corp DUF 0001321523 Forman Edward C/O DUFF & PHELPS CORPORATION 55 EAST 52ND STREET NEW YORK NY 10055 0 1 0 0 Executive VP, Gen. Cnsl., Sec. Non-qualified Stock Option (right to purchase) 16.00 2007-10-03 4 A 0 100000 0.00 A 2017-09-27 Class A common stock 100000 100000 D Duff & Phelps Acquisitions, LLC New Class A Units 2007-10-03 4 A 0 47668 A Class A common stock 47668 47668 D First 25% exercisable on September 27, 2008; remaining installments of 25% each exercisable on subsequent anniversaries of such date. Pursuant to an exchange agreement entered into in connection with the closing of the initial public offering of Duff & Phelps Corporation (the "IPO"), holders of New Class A Units of Duff & Phelps Acquisitions, LLC ("DPA") issued in connection with the reorganization of DPA immediately prior to the consummation of the IPO (the "Reorganization") may exchange their New Class A Units for Class A common stock of Duff & Phelps Corporation on a one-for-one basis up to four times each year, subject to the vesting, minimum retained ownership requirements and transfer restrictions and customary conversion rate adjustments for splits, unit distributions and reclassifications contained in the exchange agreement. Notwithstanding the foregoing, no New Class A Units issued in the Reorganization may be exchanged for Class A common stock at any time prior to March 31, 2008, other than as set forth in the exchange agreement. /s/ Jacob Silverman as Attorney-in-Fact for Edward Forman 2007-10-05